On September 26th 2018, Phan Vu Group have completed the purchase of 20.910.000 shares 51% FCM shares and officially become the controlling shareholder of Fecon Minerals Joint Stock Company (FCM).
Accordingly, Phan Vu Group have the right to make transactions for the transfer of 20,910,000 shares of FCM, equivalent to 51% of the outstanding shares of FCM in the form of buy order matching or buying agreement without having to make a a public tender in accordance with regulations.
After officially holding 51% FCM shares, Phan Vu Group have suggested Mr. Ha The Phuong continue to hold the position of Chairman of Fecon. Phan Vu Group only appoint 02 members of BOD and 01 independent member of BOD to ensure transparency in business operation.
Chairman of Phan Vu Group - Mr. Phan Khac Long and Chairman of Fecon Minerals - Mr. Ha The Phuong
Phan Vu Group are a leading Vietnamese company in the field of manufacturing, supplying and constructing pre-stressed concrete piles (PHC). In addition to financial growth and stability, Phan Vu Group also receive full support from Asia Pile Holdings (Japan), a leading Japanese group in the field of foundation piles. Meanwhile, Fecon Minerals is the largest concrete pile manufacturer in the North of Vietnam, with pile products from D300 to D1200 and capacity of 9,000 m / day.
The cooperative agreement of the two leading companies in Vietnam with the expectation of creating a strong link and aspiring to become the leading alliance in Southeast Asia in the field of foundation piles.
Some newspapers and magazines reported on the purchase of 51% FCM shares: